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Espresso shot of the day – Shipping Corporation of India Ltd up by 19.96 percent)

Espresso shot of the day – Shipping Corporation of India Ltd up by 19.96 percent

March 02, 2021

SHIPPING CORPORATION OF INDIA LTD 124.40 (+19.96%)  BSE – INE109A01011| 2ND MARCH 2021

Binge graph The Shipping Corporation of India

The Shipping Corporation of India was established on October 2nd, 1961, by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Starting out as a marginal Liner shipping company with just 19 vessels, the SCI has today evolved into the largest Indian shipping Company. The SCI also has substantial interests in various segments of the shipping trade. SCI’s owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for six decades, SCI today has a significant presence on the global maritime map. As the country’s premier shipping line, the SCI owns and operates around one-third of the Indian tonnage, and has operating interests in practically all areas of the shipping business; servicing both national and international trades. In view of the demand from Indian trade, the SCI has diversified into a large number of areas. The SCI is today the only Indian shipping company operating: break-bulk services, international container services, liquid/dry bulk services, offshore services, passenger services. In addition, the SCI mans and manages a large number of vessels on behalf of various government departments and organizations. The SCI has immensely contributed to the growth of India’s EXIM trade and the national exchequer, by being a net earner/saver of valuable foreign exchange. Over the years, SCI has been a lifeline for the country in times of emergency and distress, by ensuring continued and uninterrupted supply of crude oil, which drives the country’s economy.

Recent Drivers

  • The Shipping Corporation of India shares hit a new 52- week high today after the government said it received multiple bids for privatisation of the PSU. 
  • The Shipping Corporation of India reported a 55.4 % decline in consolidated profit at Rs 131.57 crores for the quarter ended December 31, 2020.
  • The Shipping Corporation of India reported the consolidated income of the company dropped to Rs 872.82 crores.
  • Earlier this year, Binesh Kumar Tyagi has been named the new director (liner and passenger services) at Shipping Corporation of India Ltd.
  • On 9th January 2021, a company official said - Shipping Corporation of India (SCI) will collaborate with Inland Waterways Authority soon to commence coastal shipping services.
 (Sources: The Business Line, Business Today, MoneyControl)

Technical Force*

  • S&P BSE ALL CAP month till date gain up by 2.81%
  • Traded on new 52- week high 124.40, stock is trading in uncharted territory
  • Touched upper circuit today 124.40
  • Spurt in volume by more than 3.71 times compares to previous vol. 3 months avg qty – 22,47,399
  • Stock price has jumped more than 280% from one year low level – 31.65 24 March 2020
  • Daily RSI (14) is in overbought territory for 2 periods ago, RSI central line crossed above central line 22 periods ago
  • 52 -week high – 124.40 | 52- week low- 31.65

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

171.63

132.32

110.28

70.97

48.93

9.62

-

-

Fibonacci Pivot

132.32

108.88

94.40

85.08

70.97

56.86

47.53

33.05

9.62


Today’s Close

124.40

SMA

BSE

10 DAY

100.30

20 DAY

93.41

50 DAY

89.45

200 DAY

64.74

Some Key Ratios (Source: BSE)

Market Cap: 5,794.54 crores

PE: 7.26

OPM%: 31.36

ROE%: 8.62

Prev. Close: 103.70

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.